Strs Ohio Acquires 3,200 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Strs Ohio increased its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 47.8% during the 4th quarter, HoldingsChannel reports. The firm owned 9,900 shares of the bank’s stock after purchasing an additional 3,200 shares during the period. Strs Ohio’s holdings in Glacier Bancorp were worth $409,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Envestnet Asset Management Inc. raised its position in Glacier Bancorp by 361.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 902,610 shares of the bank’s stock valued at $25,724,000 after buying an additional 706,833 shares during the last quarter. FMR LLC raised its position in Glacier Bancorp by 50.1% in the 3rd quarter. FMR LLC now owns 1,360,803 shares of the bank’s stock valued at $38,783,000 after buying an additional 454,289 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Glacier Bancorp by 30.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock valued at $29,197,000 after buying an additional 239,168 shares during the last quarter. Victory Capital Management Inc. raised its position in Glacier Bancorp by 12.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,310,453 shares of the bank’s stock valued at $37,348,000 after buying an additional 141,127 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in shares of Glacier Bancorp during the 3rd quarter worth approximately $2,992,000. Institutional investors own 80.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GBCI. Stephens lowered their price target on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Raymond James boosted their price target on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Truist Financial reduced their target price on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. DA Davidson reduced their target price on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.40.

Glacier Bancorp Stock Performance

GBCI opened at $37.12 on Monday. The business has a fifty day simple moving average of $37.88 and a 200 day simple moving average of $36.97. The company has a market capitalization of $4.21 billion, a PE ratio of 21.21 and a beta of 0.80. Glacier Bancorp, Inc. has a 1 year low of $26.77 and a 1 year high of $44.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The firm had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. Research analysts expect that Glacier Bancorp, Inc. will post 1.68 EPS for the current year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.56%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Glacier Bancorp Profile

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.